Yet, in addition to blindly rubber stamping reathorization of funding authority, the proposed reform legislation does not even address the causes of the Encap debacle. According to excellent reporting by the Record:

"But other key safeguards, including one to protect taxpayers from eating bad loans to developers, remain on the drawing board..... Hart acknowledged, though, that state officials are still working on plans to tighten up credit and collateral standards for borrowers like EnCap. New procedures for releasing loan money and checking up on projects in progress are also being drawn up, he said."

We have made very specific reform recommendations that have been completely ignored.

Trenton is not serious about reforms -

Not another penny should be appropriated to the NJEIT and DEP until reforms are put in place that prevent new Encaps - the legislature can start with prohibiting the use of clean water money to subsidize new development and provide private benefits of public funds.